Archive for the ‘Credit Cards’ category

When it comes to personal credit card debt, one of the most important things that you need to figure out when you are faced with a lawsuit is figuring out who owns the debt and who is suing you. You might have to obtain the information through discovery so one of the most important things that you can do is file an answer to buy yourself some time and then get the information.

Who owns the debt can determine if the other side can prove their case at trial. These days, credit card debt are sold fairly quickly after the credit card has charged off the debt. Most sell the debt after the debt has become delinquent after a year.

If that is the case and your debt was sold then you might stand a good chance of winning your case. Its best to get an attorney to review your case to see the viability of prevailing on your case or not. It also will stop those phone calls from the debt collector as well.

Credit card companies saw a decrease in the number of credit card accounts falling into default in the month of December than in any month in 2010. All six of the biggest card issuers posted their lowest rates for charge-off or accounts written off as uncollectible. This is potentially good news for the economy.

Is a collection agency threatening to sue you on a credit card matter that you owe money on? Here are somethings that you should check. When you receive a letter from the collection agency or especially from an attorney, check to see who the attorney claims he or she represents. If the attorney says that they are representing someone other than the credit card company then that means that your debt was probably sold to someone else.

That could be potential good news for you because if your credit card company sold your debt to someone else, the new owner of your debt will have a tough time to prove their case if you file an Answer to a lawsuit they file. That is right. If they sue you, just file an Answer. If you file an Answer, they will not be able to prove their case at trial unless they can get a witness from the credit card company, which is unlikely because the credit card company has sold your debt. When they sell your debt they will only provide the buyer with a declaration that the buyer can use to prove their case if you don’t file an answer.

If an answer is filed, the buyer has no one who can authenticate the documents that prove your debt. At trial you can ask the court to rule in your favor.

If you are not sure what to do or need an attorney who can walk you through the process, contact our office and ask for Don Sakaida. My phone number is 310-473-9153. I can see if your case qualifies for these situation and we can go from there.